Division 293 - FAQ

This FAQ only relates to superannuation members who have defined contribution superannuation benefits. It does not apply to superannuation members who either have had notional contributions or have defined benefit interests.

This valuable document covers:

Q1. What is Division 293 Tax?
Q2. How is Division 293 Tax calculated?
Q3. Who pays Division 293 Tax?
Q4. What payment options are there for Division 293 Tax?
Q5. What is a Release Authority?

Q6. How does a member request the issue of a Release Authority?
Q7. Once the Release Authority has been requested, what then happens?
Q8. Must the release authority be given to the trustee of the fund from which the taxable contributions arose?
Q9. What does a trustee do when it receives a release authority?
Q10. In what circumstances can the trustee decline to pay the requested amount?

Q11. What if the trustee can only pay part of the requested amount?
Q12. If there has been an underpayment, what happens?
Q13. What happens if the member makes no request within 60 days?
Q14. What are the superannuation and taxation consequences of using a release authority?

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